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Senior Analyst, Business Controls (Auditor)


This is a Contract position in Montréal, QC posted September 8, 2017.

Description CIBC is a leading Canadian-based global financial institution. Through our three major businesses – Retail and Business Banking, Wealth Management and Capital Markets – we provide a full range of financial products and services to 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders. To learn more about CIBC’s Lines of Business, please visit our website. CIBC delivers access to career and development opportunities, safe and healthy workplaces, effective training, and positive work-life balance – so that employees are able to perform at their best, contribute to their communities and focus on cultivating deeper relationships with our clients. Every year, CIBC is recognized for its business successes, community commitment and employee initiatives. We are proud of these successes and are committed to creating an inclusive workplace and an environment where all employees can excel. CIBC is committed to attracting and retaining a diverse team of employees who reflect the communities in which we live and work. To learn more about CIBC and the CIBC Group of Companies please visit CIBC Asset Management Inc. (CAM) is one of Canada’s largest asset management firms with over $100 billion in assets under management. We are leaders in providing a broad range of high-quality global investment management solutions to retail and institutional clients. Our assets include those under institutional money management for pension funds, endowments and insurance funds, private wealth management, and those that are part of the CIBC family of mutual funds such as CIBC Mutual Funds and Renaissance Investments family of funds and the CIBC family of managed portfolio solutions such as Managed Portfolio Services (MPS), Personal Portfolio Services (PPS), Frontiers Pools, Axiom Portfolios, and Sequence Portfolios. CIBC Asset Management is part of the CIBC Wealth Management group. At CIBC Asset Management, our goal is to help our clients achieve what matters to them. Our philosophy is based on the CIBC values of Trust, Teamwork, and Accountability. Job Overview Reporting to the Assistant Manager, the Senior Analyst will be involved in all areas of Business Controls’ compliance monitoring activities. He or she will be expected to deliver compliance reviews of CAM’s operations, in accordance with Business Controls’ compliance monitoring methodology and within timeframes outlined in the annual monitoring plan. The main objectives of the monitoring are: 1) to validate the firm’s adherence with compliance policies and procedures, client requirements, and regulatory requirements; and 2) to assess whether adequate key controls are in place and operating effectively. Compliance monitoring is performed in all operational areas including trading, portfolio management, client servicing, marketing/ business development, and operations. What You’ll Be Doing Execute assigned compliance reviews within given timeframes in a manner consistent with Business Controls’ monitoring methodology. Test the effectiveness of the internal controls & processes and provide assurances that controls are adequate and functioning effectively: Create, document and maintain current monitoring procedures. Analyze policy, procedure and client-specific requirements in order to develop appropriate and relevant compliance monitoring tests and procedures ensuring all requirements are identified and adequately tested Where necessary, meet with management and staff of various departments to understand operational processes and controls in order to develop appropriate compliance tests Document results of compliance tests in a manner that clearly and concisely demonstrates the results of each test. Consult with Business Controls management regarding compliance and/or operational issues encountered during compliance reviews Draft exception reports outlining any issues noted during the reviews, recommendations for operational improvements and/or changes that address operational weaknesses, and discuss action plans with individuals responsible for the activity reviewed Identify opportunities to improve the monitoring/ auditing process and recommend solutions Extract and manipulate data from various sources for analysis, risk assessment and scoping of compliance monitoring, based on Business Controls’ compliance monitoring needs: Organize and analyze data from various databases and/or across multiple systems to support and enhance compliance monitoring and Business Controls’ management decisions Support the development, testing, and implementation of automated analytics using ACL and other tools. Act as subject matter expert for the ongoing execution of automated tests Conduct timely and effective analytics on specific operational activity and generate results/ analysis for satisfactory results or areas of weakness/ deficiency Identify patterns of transactions as well as significant deviations from normal activity and/or highlight potential errors, irregularities, unusual transactions, events Develop analytic strategies for specific activities and processes in order to perform ongoing reasonableness tests such as trend analysis, intra-period and inter-period comparisons, variance analysis Maintain a library of continuous analytics test scripts through regular updates Timely review and approve marketing documents. Work on special projects related to the Business Controls department Assist the Business Controls team in responding to compliance-related inquiries from internal and external clients as necessary This Senior Analyst can make recommendations for operational improvements and/or changes that allow CAM to comply with CIBC and CAM policies and procedures as well as enhance the efficiency and effectiveness of operational controls. The compliance reviews may include activity from all aspects of CAM’s operations and could cover activity in either or both Montreal and Toronto locations What We’re Looking For Must have a university degree in Accounting, Finance, Business, Statistics or a related field. Required Business/ Technical Knowledge and Soft Skills: 2-4 years of relevant experience in asset management, mutual funds, financial services operations or 2-4 years’ experience in auditing and/or compliance monitoring experience in one of the above fields. Strong knowledge of auditing methodology, techniques, processes, and standards Must be comfortable working with Excel including pivot tables, experience with VBA programming is an asset Understanding of asset management trading, portfolio management and operations is an asset including experience with equity, fixed income and derivatives trading (including currencies) Must have strong analytical and critical thinking skills are required. Must be able to interpret and apply fundamental principals across different scenarios (e.g. asset classes) Must be able to qualify data in an easily understandable fashion, organize it in a logical manner and show clarity of thought that clearly demonstrates the testing performed; the results achieved, including the areas of compliance, non-compliance and risk Must have meticulous attention to detail with very high professional writing and documentation standards – accuracy, consistency and presentation Must be a curious, self-motivated/ self-starter with strong organizational and problem solving skills. Must be results oriented, able to work independently, remain flexible and manage and prioritize workloads (with shifting priorities) in order to meet deadlines Strong teamwork and collaboration skills, can anticipate and recognize areas of conflict, able to elicit relevant input and feedback from others in a diplomatic and timely fashion Able to engage with all levels within the firm and remain resilient Strong communication skills in both French and English Knowledge of Canadian securities legislation (NI 81-102, NI 81-107, NI 31-103) is an asset Experience with ACL data analytics software is an asset Experience with derivatives is an asset Operational risk management experience is an asset What CIBC Can Offer You Flexible health benefits, stock purchase plan, competitive incentive pay and recognition programs Competitive salary and banking benefits Career growth, development and continuous learning opportunities Opportunity to be involved in CIBC events that help our communities Click to learn more about Rewards & Recognition, Learning & Development, and Employee Community Involvement What You Need To Know Must be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work permit or study permit that allows the candidate to fulfill the requirements of the role May include occasional travel between Montreal and Toronto